Notes to SEFA
Title: Note A – Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures
are not allowable or are limited as to reimbursement. TCS has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: TCS has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity
of The Charles School at Ohio Dominican University (TCS) under programs of the federal government for the year
ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2
U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the
operations of TCS, it is not intended to and does not present the financial position, changes in net position, or cash
flows of TCS.
Title: Note B – Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures
are not allowable or are limited as to reimbursement. TCS has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: TCS has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures
are not allowable or are limited as to reimbursement. TCS has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
Title: Note C – Child Nutrition Cluster
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures
are not allowable or are limited as to reimbursement. TCS has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: TCS has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
TCS commingles cash receipts from the U.S. Department of Agriculture with similar State grants. When reporting
expenditures on this Schedule, TCS assumes it expends federal monies first.
Title: Note D – Transfers Between Program Years
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures
are not allowable or are limited as to reimbursement. TCS has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: TCS has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
TCS generally must spend Federal assistance within 15 months of receipt. However, with Ohio Department of
Education (ODE) approval, TCS can transfer (carryover) unspent Federal assistance to the succeeding year, thus
allowing TCS a total of 27 months to spend the assistance. During fiscal year 2023, the ODE authorized the
following transfers: